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1901 W Granville Ave
Chicago, IL 60660
Multifamily Property For Sale
·
45 Units
Property Facts
| No. Units | 45 | Lot Size | 0.34 AC |
| Property Type | Multifamily | Building Size | 33,200 SF |
| Property Subtype | Apartment | Average Occupancy | 82% |
| Apartment Style | Mid-Rise | No. Stories | 4 |
| Building Class | C | Year Built/Renovated | 1932/2008 |
| Zoning | RS-3 - 3-15 - Two-Or-Three Story, Non-Fireproof Corridor Apartme | ||
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 33,200 SF |
| Average Occupancy | 82% |
| No. Stories | 4 |
| Year Built/Renovated | 1932/2008 |
| Zoning | RS-3 - 3-15 - Two-Or-Three Story, Non-Fireproof Corridor Apartme |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
About 1901 W GRANVILLE AVE , CHICAGO, IL 60660
Monarch Realty Partners is pleased to exclusively offer for purchase 1901 W. Granville, a forty five [45] unit courtyard apartment building located in West Ridge on Chicago’s northside. Adjacent to the desirable Andersonville and Edgewater Glen neighborhoods, this area within the West Ridge submarket has become very attractive in recent years to both renters and investors alike. Once planned for condominiums, the base building, systems, and majority of units have already been fully updated. The property remains on a single PIN and is fully leased at below market rents. The unit mix consists of nine [9] 2BR/2Ba, three [3] 2BR/1Ba, twenty seven [27] 1BR/1Ba, and six [6] studio apartments. Base building improvements include an updated electric main, meters, and panels installed in all units, copper horizontal plumbing and risers for renovated tiers, newer aluminum windows and lintels, newer porches, tuck pointing, and an improved roof. Twenty four [24] apartments have been gut renovated to condo spec. These renovated units are completely rewired and have individual furnaces and washer dryer hookups. The twenty one [21] vintage units have favorable layouts with separate dining rooms and are well maintained. The property still runs on a central boiler which could be severed upon renovation of all units. Situated on a corner in a quiet neighborhood across from Emmerson Park, the property has easy access to Lake Michigan and downtown Chicago via Lake Shore Drive. Transit is accessible nearby and there are dedicated plans for a new Metra stop nearby at Peterson and Ravenswood. This is an opportunity to purchase a substantially updated courtyard with an excellent unit mix and value add including rent upside and future renovation.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 450 |
| 1+1 | 27 | - | 679 - 710 |
| 2+1 | 12 | - | 870 - 1,000 |
Property Taxes
| Parcel Number | 14-06-213-003-0000 | Improvements Assessment | $505,289 |
| Land Assessment | $90,799 | Total Assessment | $596,088 |
Property Taxes
